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Apple's Secret Gold Mine

Video Credit: Wochit - Duration: 00:47s - Published < > Embed
Apple's Secret Gold Mine

Apple's Secret Gold Mine

According to a recently revealed Goldman Sachs estimate, last year Google paid Apple $9.4 billion to be the default search engine on the iPhone; making Google's payment to Apple worth as much as 23% of Apple's services business.

Apple is aware of how helpful this business deal truly is, deeming it as the company's growth engine as iPhone sales slow.

The money is not slowing down either, Google could pay Apple as much as $12.2 billion in the coming year, according to Goldman's model.

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